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Articles by Noreen Byrne
Cambodian REFLECTIONS
Recently, a group of Cambodian visitors travelled to Ireland on a learning exchange, exploring Irish co-operatives with the aim of further building their own co-operative movement at home. While they undoubtedly returned with valuable insights, I found myself reflecting on something equally important: how much we, as hosts, learn from such exchanges. Explaining ourselves to others requires us to revisit our own story – our history, our values and where we are heading.
Why high cost credit loans remain a serious issue in Ireland
Analysis: There are around 288,000 high cost customer loans in Ireland which are subject to extremely high interest rates In 2022, the Consumer Credit (Amendment) Act was enacted to place a cap on the interest rate that can be charged on moneylender loans. In simple interest terms, this resulted in a cap of 1% loan interest per week, to a maximum charge of 48% per annum. This translates into a maximum allowable APR of 152.35%.
Corporate Ladder: your weekly guide to executive appointments in South Australia
Passing on the baton at Kain Lawyers John Kain has announced he will retire as managing director of national transaction law firm Kain Lawyers after 21 years in the role. Kain will take a sabbatical before returning to Kain Lawyers as an executive chair and will be based in Sydney. Kain passes on the reins to University of Adelaide graduate Michael Garry, who has been a director at Kain Lawyers for nearly the past 10 years.
Pat Manak Announces NACDA Family Updates
CLEVELAND – The National Association of Collegiate Directors of Athletics (NACDA) has released several staff updates in advance of the 2024-25 academic year. NACDA Chief Executive Officer Pat Manak announced the hiring of industry veterans Erik Christianson and Meredith Scerba, who will join the NACDA Family as Executive Vice President and Senior Vice President, respectively.
Solidarity for the sake of humanity
In a world designed to keep us busy and distracted perhaps the true work of humanity is building solidarity. Dr Noreen Byrne suggests some antidotes to the forces that suppress the human spirit and prevent us from connecting with others and with our own innate wisdom. Talking to a student recently, she was discussing her home country and how modernisation, while it has brought material benefits, is crushing the innate wisdom and solidarity of its people.
Co-Operative Lifecycle Framing—Reinvention or Regeneration and Does It Matter?
Open AccessArticle by Noreen Byrne Centre for Co-Operative Studies, Department of Food Business and Development, University College Cork, T12 CY82 Cork, Ireland Sustainability 2023, 15(7), 6181; https://doi.org/10.3390/su15076181 (registering DOI) Received: 30 November 2022 / Revised: 10 March 2023 / Accepted: 10 March 2023 / Published: 4 April 2023 (This article belongs to the Special Issue Co-operating for Change: Roles, Potentials, and Challenges of Cooperatives in the Decade Leading up to...
Moneylending in Ireland: '€70m in interest payments annually'
Analysis: there are many reasons why people continue to use moneylenders despite exorbitant interest rates By Olive McCarthy and Noreen Byrne, UCC In late 2018, a bill was passed to cap the rate of interest that can be charged by licensed moneylenders in Ireland at 36% APR. This came a mere two weeks after the launch of our report, funded by the Social Finance Foundation and the Central Bank of Ireland, into interest rate restrictions on high cost credit.
Payday loans: clampdown was vital, but credit unions must expand after coronavirus to fill gap Original
The cost of accessing small personal loans can be eye-wateringly high for those who need it most. Take the UK, where a £200 loan from Provident Personal Credit over 13 weeks costs £86 in interest. That’s an equivalent APR of a whopping 1,557.7%. These offers are available even after the caps on payday loans that the UK introduced five years ago. In the months after the reforms, the Financial Conduct Authority (FCA) reported that the number of loans and the overall amount borrowed was down 35%.
Do consumer warnings on financial products work?
Opinion: a range of protections are given to consumers accessing credit and financial products online, but how effective are they? By Olive McCarthy and Noreen Byrne, UCC With evidence of an accelerated move towards online banking during the Covid-19 pandemic, and advancements by fintechs and challenger banks into the personal lending market, consumer protection around digital financial services comes into sharp focus.
PREMIER LEAGUE WITH WILLIAM HILL
Poll: Will you go to a shopping centre this week? UNDER THE GOVERNMENT’S accelerated roadmap to re-open Ireland, shopping centres across the country are permitted to re-open today. While some centres have remained open to allow access to supermarkets and pharmacies, many shops inside remained closed since March.
'We've heard of moneylenders meeting customers at the post office as they collect their social welfare'
A WEEK AGO, the Central Bank unveiled tighter regulations aimed at protecting consumers who avail of high-interest loans from licensed moneylenders. Currently, moneylenders are permitted to charge up to 188% Annual Percentage Rate (APR), rising to 288% when permitted collection charges are included. Could you imagine walking into a bank and being told your loan must be paid back at that rate? Most commonly, licensed moneylenders offer loans at an APR of up to 125% before collection charges.
Australian Carbon Capture, Utilisation & Storage Conference
Darren Greer General Manager CTSCo, Glencore Mark McCallum Chief Executive Officer, Low Emission Technology Australia Dr Matthias Raab Chief Operating Officer, CO2 CRC Alex Zapantis General Manager – Commercial, Global CCS Institute Steven Marshall Operations Director – CarbonNet, Department of Jobs, Precincts and Regions Saul Kavonic Head of Energy Research Australia, Credit Suisse Dr Paul Feron Science Leader, CSIRO Energy Professor Peter Cook Advisor on CCS, BPH Rohan Gillespie Managing...
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